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A Proposed Implementation of the CHIP Time Currency

The articles in this section explore, in more detail, the CHIPs time currency introduced in the book Got Choices.

If you haven’t read that already, it is recommended. If you don’t want to read the whole book, at least try to fully internalize the sections concerning money. The following articles assume you are already familiar with, at least, the following concepts:

  • Most money is really credit, or debt;
  • Such credit, or money, can be issued by individuals and corporations—not just central banks;
  • Basic accounting, as a flow of value from one party to another—most particularly balance sheet analysis.
  • The CHIPs, proposal for a time-based currency.

Additionally, the article on software implementation will likely be most meaningful if you have an understanding of programming or software architecture.

The ideas presented here are admittedly not fully complete, or possibly even fully consistent. Rather, this section is meant to be a starting place for discussion about how best to implement a public domain complementary currency based on privately issued credit. The author invites your comments, questions, and criticisms in order to improve and refine these ideas until they are ready for implementation.

A project of this scope and size can not be undertaken by one person. By its nature as open-source, it really must be done as a community effort. It will take a group of skilled and experienced programmers, as well as a number of financial and legal minds to cross all the necessary hurdles. Hopefully, this work can serve as a stimulus and a catalyst for such a work to take place.

To get started, click here.